Okla. Stat. tit. 36, § 36-2026
This is the official text of Okla. Stat. tit. 36, § 36-2026, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Board of directors - Membership - Term - Vacancies -
Official statutory text
Approval - Compensation.
A. The Board of Directors of the Oklahoma Life and Health
Insurance Guaranty Association shall consist of not less than seven
(7) nor more than eleven (11) member insurers serving terms as
established in the procedural rules of the Association. A majority
of the Board shall be selected from the fifty (50) member insurers
which write the largest volume of life and accident and health
premiums and annuity considerations for the previous year. The
members of the Board shall be selected by member insurers subject to
the approval of the Insurance Commissioner. Vacancies on the Board
shall be filled for the remaining period of the term by a majority
vote of the remaining Board members, subject to the approval of the
Commissioner.
B. In calculating total premium for Board qualification
purposes, premiums collected by different members of the same multi-
insurer group may be attributable to each member of the group;
Oklahoma Statutes - Title 36. Insurance Page 601
provided, no two members of the same group shall serve on the Board
at the same time.
C. In approving selections, the Commissioner shall consider,
among other things, whether all member insurers are fairly
represented.
D. Members of the Board may be reimbursed by the Association
for expenses incurred by them as members of the Board, but members
of the Board shall not otherwise be compensated by the Association
for their services.
A. The Board of Directors of the Oklahoma Life and Health
Insurance Guaranty Association shall consist of not less than seven
(7) nor more than eleven (11) member insurers serving terms as
established in the procedural rules of the Association. A majority
of the Board shall be selected from the fifty (50) member insurers
which write the largest volume of life and accident and health
premiums and annuity considerations for the previous year. The
members of the Board shall be selected by member insurers subject to
the approval of the Insurance Commissioner. Vacancies on the Board
shall be filled for the remaining period of the term by a majority
vote of the remaining Board members, subject to the approval of the
Commissioner.
B. In calculating total premium for Board qualification
purposes, premiums collected by different members of the same multi-
insurer group may be attributable to each member of the group;
Oklahoma Statutes - Title 36. Insurance Page 601
provided, no two members of the same group shall serve on the Board
at the same time.
C. In approving selections, the Commissioner shall consider,
among other things, whether all member insurers are fairly
represented.
D. Members of the Board may be reimbursed by the Association
for expenses incurred by them as members of the Board, but members
of the Board shall not otherwise be compensated by the Association
for their services.
Status: in_force · Read it on the official government site
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